AI Chatbot Market Trends and Forecast
The future of the global AI Chatbot market looks promising with opportunities in the large enterprise and SME markets. The global AI Chatbot market is expected to grow with a CAGR of 23.4% from 2024 to 2030. The major drivers for this market are increasing demand for customer support automation, advancements in natural language processing (NLP) and machine learning, and rising popularity of messaging platforms such as Facebook Messenger, WhatsApp, and WeChat.
• Lucintel forecasts that messenger is expected to witness higher growth over the forecast period.
• Within this market, large enterprise is expected to witness the higher growth.
• APAC is expected to witness the highest growth over the forecast period.
Country Wise Outlook for the AI Chatbot Market
• United States – Facebook launched advanced AI chatbots for Messenger, enhancing customer interaction and e-commerce. Government supports AI development through tech industry incentives.
• China – WeChat introduced AI chatbots for integrated services, targeting seamless user experience and government efficiency initiatives.
• India – Haptik developed AI chatbots for banking and healthcare sectors, aiming to improve customer service and operational efficiency. Government promotes AI in digital transformation policies.
• United Kingdom – Babylon Health launched AI chatbots for telemedicine, providing medical advice and symptom checking. Government supports AI in healthcare innovation and patient care.
A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.
AI Chatbot Market by Segment
The study includes a forecast for the global AI Chatbot market by type, application, and region.
AI Chatbot Market by Type [Value from 2018 to 2030]:
• Messengers
• Web Widgets
• Others
AI Chatbot Market by Application [Value from 2018 to 2030]:
• Large Enterprises
• SMEs
AI Chatbot Market by Region [Value from 2018 to 2030]:
• North America
• Europe
• Asia Pacific
• The Rest of the World
List of AI Chatbot Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies AI Chatbot companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the AI Chatbot companies profiled in this report include-
• Google
• Nuance Communications
• AWS
• LogMein
• Inbenta
• CogniCor Technologies
• Gupshup
Recent Development in the AI Chatbot Market
• Facebook: Facebook launched advanced AI chatbots for Messenger, integrating natural language processing to enhance customer interactions and support e-commerce transactions.
• WeChat: WeChat introduced AI chatbots for integrated services, improving user engagement and operational efficiency across its platform.
• Haptik: Haptik developed AI chatbots for banking and healthcare sectors, focusing on automating customer support and improving service delivery through conversational AI.
• Babylon Health: Babylon Health launched AI chatbots for telemedicine, allowing users to receive medical advice and conduct symptom assessments through interactive conversations.
Features of the Global AI Chatbot Market
Market Size Estimates: Ai chatbot market size estimation in terms of value ($B).
Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
Segmentation Analysis: Ai chatbot market size by type, application, and region in terms of value ($B).
Regional Analysis: Ai chatbot market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
Growth Opportunities: Analysis of growth opportunities in different types, applications, and regions for the AI Chatbot market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the AI Chatbot market.
Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ
Q1. What is the growth forecast for AI Chatbot market?
Answer: The global AI Chatbot market is expected to grow with a CAGR of 23.4% from 2024 to 2030.
Q2. What are the major drivers influencing the growth of the AI Chatbot market?
Answer: The major drivers for this market are increasing demand for customer support automation, advancements in natural language processing (NLP) and machine learning, and rising popularity of messaging platforms such as Facebook Messenger, WhatsApp, and WeChat.
Q3. What are the major segments for AI Chatbot market?
Answer: The future of the global AI Chatbot market looks promising with opportunities in the large enterprise and SME markets.
Q4. Who are the key AI Chatbot market companies?
Answer: Some of the key AI Chatbot companies are as follows:
• Google
• Nuance Communications
• AWS
• LogMein
• Inbenta
• CogniCor Technologies
• Gupshup
Q5. Which AI Chatbot market segment will be the largest in future?
Answer: Lucintel forecasts that messenger is expected to witness higher growth over the forecast period.
Q6. In AI Chatbot market, which region is expected to be the largest in next 5 years?
Answer: APAC is expected to witness the highest growth over the forecast period.
Q7. Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% customization without any additional cost.
This report answers following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the AI Chatbot market by type (messengers, web widgets, and others), application (large enterprises and SMEs), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
For any questions related to AI Chatbot Market, AI Chatbot Market Size, AI Chatbot Market Growth, AI Chatbot Market Analysis, AI Chatbot Market Report, AI Chatbot Market Share, AI Chatbot Market Trends, AI Chatbot Market Forecast, AI Chatbot Market Companies, write Lucintel analyst at email: helpdesk@lucintel.com. We will be glad to get back to you soon.